Martin Feldstein was an economic adviser to Ronald Reagan and is a strong advocate of free market economics. However, he recognizes the need for a stimulus package.

* JANUARY 7, 2009

Reagan Aide Backs Obama On Stimulus

By JUSTIN LAHART

Martin Feldstein is an unlikely Democrats' darling.

The onetime presidential adviser to Ronald Reagan might even be considered the least likely advocate of government spending to boost the U.S. economy.

But given present circumstances, the Harvard University economist has changed his mind. Mr. Feldstein will be featured Wednesday at a Democratic economic forum, along with Robert Reich, former labor secretary and longtime liberal. Democratic leaders now mention Mr. Feldstein's support when they discuss their economic recovery plan, criticized by some as a pricey grab-bag of liberal goodies.

"We're down to fiscal policy, which pains me a bit, more than a bit, but I don't think we have a choice," said Mr. Feldstein.

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